Tesla’s profits slide despite growing revenue as it pivots to robotics and AI

Shares in Elon Musk company fall more 3% in after-hours trading, as earnings per share miss Wall Street expectations

Tesla reported its second-quarter earnings on Wednesday, disclosing far lower profits than expected. The company’s already beleaguered stock, which had fallen about 14% this year to date, dipped further following the earnings report.

Elon Musk’s automaker, once the pinnacle of his tech empire, has taken a back seat to SpaceX. Musk’s rocket and AI company held the largest stock market debut in history last month, turning the richest man on Earth into the world’s first trillionaire, though his net worth has since fallen from its peak.

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House Republicans to write $95bn bill to fund Iran war and aid farmers

GOP-controlled chamber paves way for reconciliation bill, while making long-shot attempt at new voting restrictions

House Republicans on Wednesday agreed to begin the process of writing a $95bn bill to fund the war with Iran as well as provide new aid to farmers, while making a long-shot attempt to impose new restrictions on voting nationwide.

In a virtually party-line 216-214, the Republican-controlled chamber passed a budget resolution that paves the way for the creation of a reconciliation bill, which can advance through the Senate under special rules that circumvent the Democratic filibuster and requires only a simple majority to pass. Two Republicans – Warren Davidson of Ohio and Thomas Massie of Kentucky, as well as Kevin Kiley, an independent of California who aligns with the GOP – joined all Democrats in opposing the measure.

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Scottish Labour’s rivals decry ‘chancer’ Anas Sarwar for resigning to join Andy Burnham’s government

New prime minister has made Sarwar – the first senior Labour figure to call for Keir Starmer’s resignation – a peer

Scottish Labour’s rivals in Holyrood have slammed Anas Sarwar’s shock decision to resign as leader to sit in Andy Burnham’s new government, calling him a “chancer” and accusing him of lying to voters.

The prime minister has made Sarwar – who was the first senior Labour figure to call for Keir Starmer to resign – a peer and given him a ministerial post at the Department for Business, Innovation, Science and Trade, No 10 announced on Wednesday.

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Modeling agent who introduced women to Jeffrey Epstein found dead in France – The Washington Post

  1. Modeling agent who introduced women to Jeffrey Epstein found dead in France  The Washington Post
  2. Daniel Siad, Model Scout Who Connected Women to Epstein, Is Found Dead in France  The New York Times
  3. Model scout investigated for Epstein trafficking ties found dead in France  ABC News - Breaking News, Latest News and Videos
  4. French modeling scout linked to Jeffrey Epstein found dead in Paris apartment  Fox News
  5. Model scout for Jeffrey Epstein found dead at his home near Paris  The Guardian
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Trump’s war on Iran is unpopular and expensive. He’s perfectly OK with that – The Guardian

  1. Trump’s war on Iran is unpopular and expensive. He’s perfectly OK with that  The Guardian
  2. Senate GOP expresses concern over Iran endgame after Hegseth hearing  The Hill
  3. Republicans in Congress continue to back Iran war despite the political risk  AP News
  4. Trump says midterms won’t impact his Iran war plan  Politico
  5. Transcript: Trump Iran Tirade Goes Nuclear as GOP Midterm Panic Grows  The New Republic
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Trump administration weighing military options in Mali, officials say – The Washington Post

  1. Trump administration weighing military options in Mali, officials say  The Washington Post
  2. Trump mulling military strikes on Mali militant group: Report  The Hill
  3. Trump Prepares to Attack Eighth Country of His Second Term  The New Republic
  4. Trump Thirsts Over His Eighth War in Unlikely Country  The Daily Beast
  5. Trump admin reportedly weighing military action in Mali  NewsNation
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Live updates: Trump vows to hit Iranian bridge or power plant each time Tehran strikes ships in Strait of Hormuz – CNN

  1. Live updates: Trump vows to hit Iranian bridge or power plant each time Tehran strikes ships in Strait of Hormuz  CNN
  2. Iran War Live Updates: Trump Threatens to Hit Bridges and Power Plants if Iran Strikes in Strait  The New York Times
  3. U.S. will destroy Iranian bridges for each attack in Strait of Hormuz, Trump says  MS NOW
  4. Tehran responds after Trump warns US will strike bridges, power plants over Hormuz attacks  Fox News
  5. Iran War Updates: Trump threatens to bomb a bridge or power plant for every ship attacked in Strait of Hormuz  CBS News
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Rubio says any nuclear agreement the US signs will not lead to nuclear proliferation – AP News

  1. Rubio says any nuclear agreement the US signs will not lead to nuclear proliferation  AP News
  2. Exclusive | Trump Approves Landmark Nuclear Deal With Saudi Arabia in Big Win for Kingdom  WSJ
  3. Standoff with Iran prompts a nuclear deal with Saudi Arabia  Los Angeles Times
  4. Trump Administration to Announce Deal That Could Let Saudis Enrich Nuclear Fuel  The New York Times
  5. What we know about the nuclear deal between the US and Saudi Arabia  NPR
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Zelenskyy under growing pressure to reinstate sacked defence minister – The Guardian

  1. Zelenskyy under growing pressure to reinstate sacked defence minister  The Guardian
  2. Why a week of protests pushed Zelensky to bring in a younger military chief  CNN
  3. Ukraine’s new military chief pledges to escalate retaliation against Russia  Al Jazeera
  4. Firing of Ukraine’s Top General Signals the End of an Era  The New York Times
  5. Ukraine’s Zelenskyy fires his commander in chief after protests and major rift  NBC News
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Dubai Cuts Deal For New Port to Bypass Strait of Hormuz – The New York Times

  1. Dubai Cuts Deal For New Port to Bypass Strait of Hormuz  The New York Times
  2. DP World to build two new terminals on UAE's eastern coast, reducing Hormuz reliance  Reuters
  3. DP World to Build Two UAE Container Terminals Outside of Hormuz  Bloomberg.com
  4. Fujairah, DP World sign deal for two new ports under 50-year concession  Emirates 24|7
  5. DP World signs 50-year deal for new Fujairah terminals  Port Technology
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Paramount’s £80bn takeover of Warner Brothers a step closer after EU approval

European Commission says Paramount Skydance’s decision to end Universal venture addresses merger concerns

Paramount Skydance’s £80bn takeover of Warner Brothers took a step closer to being realised after it won conditional approval from the European Union.

The European Commission said Paramount’s offer to ⁠end a film ⁠distribution ​joint venture with Universal Pictures addressed its concerns over the potential merger. As part of its commitments in the EU, Paramount has 13 months from the date of closing the deal to pull out from the venture.

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